2024-05-10 Swedish Krona News
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2024-05-09
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
1. Understanding the overall trend of the exchange rates
The overall trend of the exchange rates for the given period is slightly decreasing. The rate starts from 0.12577 and ends at 0.12599 with fluctuations inbetween. Although the changes are not large, the decreasing trend suggests a slight weakening of the SEK over this given period in 2024.
2. Identifying any seasonality or recurring patterns
Upon an initial review of the data, there do not seem to be any clear seasonal or recurring patterns within the timeframes given. The frequency of rates appears to be recorded roughly every 5 minutes, which does not provide enough data to discern daily, weekly, or yearly patterns. Furthermore, the data only accounts for a single day (May 9, 2024), which limits the possibility of discerning any form of seasonality. A larger data set with more encompassing dates would be required to adequately identify any seasonality or recurring patterns.
3. Noting any outliers
The biggest outlier was at 17:05:02 when the exchange rate dropped to 0.12584 from 0.12608 in the previous entry. However, it is important to note that during the rest of the timeframe, fluctuations were minimal and were typically within a thousandth of a point. These minor fluctuations suggest a relatively stable currency exchange during the given period. For a thorough outlier analysis, statistical tests can be used, but it would require a larger sample size for meaningful interpretations.
![Significant Volatility Marks SEK Exchange Rates in Unprecedented Market Moves](http://currencymart.net/images/news/swedish-krona/2024-05-10/img-TT05evTrzUw3nKHx2eKy8Nv7.webp)